Making a Gift from the USA
US taxpayers can make donations to The Glasgow Academy which are tax deductible, to the extent allowed by law in the USA, by making your donation through the British Schools and Universities Foundation (BSUF).
Cash gifts may be made to the BSUF expressing preference for support of The Glasgow Academy. Cheques should be made payable to British Schools and Universities Foundation, Inc. (or BSUF) and postmarked on or before 31 December to qualify for current-year tax deduction. If you send your donation directly to the BSUF, please use the BSUF Donor Transmittal Form.
In giving gifts of marketable securities donors could realise significant tax benefits. To contact BSUF regarding a gift of marketable securities please send e-mail to treasurer@BSUF.org.
Individual Retirement Accounts (IRAs)
IRAs can be made much more tax efficient by naming the BSUF as a beneficiary with an expression of preference for an Approved Institution. This relieves the Estate of (a) the Distribution and Income Taxes which are levied by most State governments; and (b) of part of the regular Estate tax. To contact BSUF regarding an IRA please e-mail to treasurer@BSUF.org.
In 2007, those over age 70.5 years may find it advantageous to have contributions made from their IRA directly to a charity without paying taxes on the amount withdrawn. The rules are complex, and individuals should consult their own professional advisers for guidance.
A provision may be made in your Will or Trust bequeathing money to the Foundation. The following wording is intended only as a provision in a full Will or Trust containing all appropriate articles. To contact BSUF regarding a bequest please send e-mail to treasurer@BSUF.org.
"I bequeath the sum of ____ dollars to the British Schools and Universities Foundation, Inc., a charitable organisation under Section 501(c)(3) of the US Internal Revenue Service Code, and incorporated at 575 Madison Avenue, Suite 1006, New York, NY 10022-2511. Further, I express a preference that the Foundation consider granting aid to The Glasgow Academy, Glasgow, United Kingdom."
If you have any questions, please contact the External Relations office on +44 (0)141 342 5494 or email email@example.com. Further details about the British Schools & Universities Foundation can be found here.